Bring a large sauté pan to a high heat; as you are waiting, season steaks with salt and pepper on both sides. Add in the canola oil and butter and as it starts to turn golden, lay the steaks into the pan, away from you, making sure they are not crowded. Add in the garlic and thyme; cook about 2 minutes on each side for medium-rare.

Remove from pan and place on warmed dinner plates. At the time you are cooking the steaks, bring another large sauté pan to a medium-high heat. Add in 3 tablespoons (45 mL) butter and when the foam subsides add in the morels. Season with salt and pepper, and then add in the thyme sprigs. After cooking for about 5 minutes, add the onions and garlic and continue to cook until the onions start to brown slightly, about another 5 minutes. Add in the quartered and cooked potatoes and warm them through. Check the dish for seasoning and adjust accordingly. Serve on the side.